McDonald's reports higher profits, sees solid US sales

McDonald's reported higher second-quarter profits yesterday on increased comparable sales in the US and other key markets, reports AFP from New York. Net income came in at $1.5 billion, up 7.3 per cent from the year-ago level. Revenues declined 11.5 per cent to $5.4 billion, the result of having sold some company-owned restaurants to franchisees. "We're seeing good performance across our business as our customers tell us that they value and appreciate the moves we're making to elevate the McDonald's experience," said chief executive Steve Easterbrook.

Since becoming chief executive in 2015, Easterbrook has focused on simplifying McDonald's offering and improving service at its US restaurants.

Comparable sales in the US rose 2.6 per cent from the year-ago level, part of a global increase of four per cent. Other countries with strong growth included Britain, France and Italy, but said its performance was weak in South Korea. Shares dipped 0.4 per cent to $158.31 in pre-market trading.

McDonalds reports higher profits, sees solid US sales

McDonalds reported higher second-quarter profits yesterday on increased comparable sales in the US and other key markets, reports AFP from New York. Net income came in at $1.5 billion, up 7.3 per cent from the year-ago level. Revenues declined 11.5 per cent to $5.4 billion, the result of having sold some company-owned restaurants to franchisees. Were seeing good performance across our business as our customers tell us that they value and appreciate the moves were making to elevate the McDonalds experience, said chief executive Steve Easterbrook. Since becoming chief executive in 2015, Easterbrook has focused on simplifying McDonalds offering and improving service at its US restaurants. Comparable sales in the US rose 2.6 per cent from the year-ago level, part of a global increase of four per cent. Other countries with strong growth included Britain, France and Italy, but said its performance was weak in South Korea. Shares dipped 0.4 per cent to $158.31 in pre-market trading.